The decisions of the Federal Supreme Court (STF) regarding Bolsa Família and the secret budget caused the dollar to close slightly higher, against the currency’s fall in the international market. The stock market rose nearly 2% and partially recovered from recent declines.
The commercial dollar ended this Monday (19) sold at R$5.309, up R$0.015 (+0.28%). The price started the day on a high, reaching R$5.34 in the first minutes of trading, but slowed down throughout the day. Around 3 pm, it reached R$ 5.29.
With today’s performance, the US currency accumulates a high of 2.06% in December. In 2022, the currency drops 4.79%.
The stock market had a quieter day. The B3 Ibovespa index closed at 104,740 points, up 1.83%. The indicator rose for most of the session, buoyed by bank shares.
The financial market started the day under tension after STF Minister Gilmar Mendes granted an injunction authorizing President-elect Luiz Inácio Lula da Silva to withdraw Bolsa Família from the spending ceiling in 2023.
In the early afternoon, after the plenary of the Supreme considered the secret budget unconstitutional, investors were in a waiting state, while they await the unfolding of the decisions on the Proposed Amendment to the Constitution (PEC) of the Transition.
Abroad, the dollar fell slightly against the main currencies of the planet, returning the strong highs of the end of last week, after the Federal Reserve (Fed, North American Central Bank) raised the basic interest rates in the United States by 0.5 percentage points . US stock markets, however, fell for the fourth time in a row, reflecting recent statements by Fed officials that the agency will continue monetary tightening to hold inflation in the largest economy on the planet.
*With information from Reuters
